Today’s Market News :
Global markets are suggesting Negative signals, so our Indian markets are likely to start with a Gap Down opening today.
The Nifty 50 index is expected to experience a gap-down opening due to earnings and inflation pressures. Yesterday, the Sensex tumbled by nearly 821 points or more than 1% and broader Nifty plunged below 23,900 level due to heavy selling in banking, power and auto shares and sluggish global trends
* Acme Solar Holdings made its stock market debut today, with shares trading at a discount in the grey market, indicating cautious investor sentiment despite the company’s recent growth and profitability.
* The IPO received a decent response, with nearly 3 times overall subscription, but analysts remain concerned about the company’s high debt levels, which may impact the listing outcome.
* Vodafone Idea is set to announce its Q2 results today, with expectations of narrowing consolidated losses between Rs 6300-6400 crore and a marginal revenue growth of 5% year-on-year.
* Nifty’s short-term trend remains weak, with a potential drop below 23,800 likely to target the next support level around 23,500, indicating a bearish outlook.
* Immediate resistance is positioned at 24,050, and negative chart patterns suggest a lack of strength in the market to sustain upward movements.
* The index has decisively broken the narrow consolidation range, suggesting a resumption of the fall, with the possibility of drifting towards 22,534 in the near term.
Oil India, Power Grid, and Container Corporation have set November 14 as the record date for dividend eligibility, with dividends to be paid by early December.
* Oil India announced an interim dividend of Rs 3 per share, while Power Grid declared an interim dividend of Rs 4.50 per share, and CONCOR announced a second interim dividend of Rs 3.25 per share.
* The dividend yields for Oil India, Power Grid, and CONCOR are 2.91%, 3.49%, and 1.41% respectively, reflecting their commitment to returning value to shareholders.
